Afreximbank Appoints Dr. George Elombi as New President, Succeeding Prof. Oramah
By Chinedu Okonkwo Abuja
In a significant leadership transition, the African Export-Import Bank (Afreximbank) has named Dr. George Elombi as its next President and Chairman of the Board of Directors, following the upcoming departure of Professor Benedict Oramah. The announcement was made during the Bank’s 32nd Annual Meetings held in Abuja over the weekend.
Dr. Elombi, a seasoned Cameroonian executive with nearly three decades of service at the Bank, will officially assume leadership in September 2025. His appointment marks a pivotal moment as Afreximbank moves into a new chapter of growth and continental influence.
Joining the institution in 1996 as a Legal Officer, Elombi steadily rose through the ranks—holding key roles such as Senior Legal Officer, Executive Secretary, and most recently, Executive Vice President overseeing Governance, Legal, and Corporate Services. Prior to Afreximbank, he lectured in law at the University of Hull in the United Kingdom and boasts an impressive academic portfolio including a Ph.D. from the London School of Economics and a ‘Maitrise-en-Droit’ from the University of Yaoundé.
Known for his strategic vision and operational insight, Elombi played a foundational role in shaping the Bank’s institutional framework and expansion. He was instrumental in establishing strategic subsidiaries that have since diversified Afreximbank’s reach across Africa and beyond. Notably, as Chair of the Emergency Response Committee, he led the mobilization of over $2 billion for vaccine access during the COVID-19 pandemic, and helped secure $3.6 billion in equity through his leadership in investor relations.
In his acceptance speech, Dr. Elombi underscored a bold commitment to continue building on his predecessor’s legacy. “As we look to the future, I see Afreximbank as a force for industrialising Africa and for regaining the dignity of Africans wherever they are,” he affirmed. Elombi also embraced the Bank’s new ten-year ambition of transforming into a $250 billion institution.
The selection process, launched earlier this year through a global talent search, culminated in Elombi’s unanimous endorsement by shareholders. According to Afreximbank’s charter, the President is appointed to a renewable five-year term following a recommendation by the Board of Directors.
Elombi’s appointment comes at a time when Afreximbank is deepening its role in driving intra-African trade, financing critical industries, and championing economic integration across the continent. With his wealth of experience and institutional insight, he is widely seen as the ideal candidate to lead the Bank into its next era of transformation.
— Chinedu Okonkwo reports for The Continent Business Review from Abuja. He covers finance, trade, and leadership developments shaping Africa’s economic future.
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